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Books > Social sciences > Sociology, social studies > Social issues > Unemployment
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Work Behavior of the World's Poor - Theory, Evidence and Policy (Paperback)
Loot Price: R1,158
Discovery Miles 11 580
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Work Behavior of the World's Poor - Theory, Evidence and Policy (Paperback)
Series: Routledge Revivals
Expected to ship within 12 - 17 working days
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The working poor of the world are observed to engage in long hours
in hard jobs and to work more if wages are further reduced.
Mainstream economics brushes off this tendency to increase labour
supply as wages fall as perverse because it does not fit the
conventional wisdom and tries to explain it as a result of
"subsistence mentality", "limited aspiration", or "target income"
behaviour of the poor. This however ignores the observed fact that
the poor work long hard hours but most of the time, fail to meet
their minimum needs of subsistence and live impoverished lives in
absolute poverty deficient of both food and physical rest. This
book postulates that the observed behaviour is the result of
economic distress the working poor suffer and analyses it as a
rational behaviour using the conventional utility maximization
framework and derives both theoretical and empirical results
consistent with the observation. This book aims to correct a
serious misconception persisting in the literature relating to the
working-poor labour-supply behaviour that is almost universally
observed. It also goes onto develop, using the supply function, a
methodology to determine the standard of subsistence income and
physical rest for the worker.
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